I’m not either, but someone making $150k/yr makes $12.5k/month (about $11k after federal and maybe $10k after state taxes). Buy a $500k house, have a $400k mortgage, and your mortgage costs at current rates are $2k - call it $3k with real estate taxes, insurance, and maybe an HOA fee. Comfortably under 30% of income. I say this as someone who bought a $330k home on $80k annual income.
Edit to add: I agree with the overall point you made though. Housing markets in cities and most suburbs are insane these days, and salary structures are absurd.
Because they are simultaneously scarce, status-symbols, and seen as paths to prosperity (either directly, or as a way to get your kids into better school districts, etc.), people bid up prices. If you haven’t already, check out Elizabeth Warren’s book “The Two Income Trap.”
That’s easy. If I wanted to justify it I’d give the easy economics answer: Wages are set by the market, not by individual employers. Regulation or redistribution is necessary for it to be otherwise.
Yes, I’m aware that in reality many labor markets are effectively monopsonies. I’m also aware that companies like Costco pay more and get enough benefit from greater retention etc. that it’s well worth it for them to do so. I don’t endorse the first part of the easy economics answer in practice, but in a world with sane governance I’d much rather give the poor extra money than set a minimum wage above the market wage for their labor.